Silvercorp Metals Approves $196M Budget for Kyrgyz Gold Projects

Silvercorp Metals (TSX: SVM) (NYSE American: SVM) has announced a significant US$196.3 million budget for its joint venture in the Kyrgyz Republic, Chaarat ZAAV CJSC, to advance the Tulkubash and Kyzyltash gold projects. The budget allocates US$166.3 million for Phase 1 development of the fully permitted Tulkubash open-pit heap leach operation and US$30 million for Phase 2 activities at the Kyzyltash sulfide deposit. Spending is forecast at US$57.3 million in 2026 and US$139 million in 2027. Phase 1 will include open-pit mining infrastructure, heap leach facilities, a crusher, ADR plant, and supporting infrastructure, while Phase 2 funding will support drilling and technical studies to advance Kyzyltash toward feasibility and construction. The company expects to publish an updated feasibility study for Tulkubash in July 2026 and plans a 50,000- to 60,000-meter drilling program at Kyzyltash this year to upgrade resources and expand the deposit.

Silvercorp is a Canadian mining company with a long history of profitability, producing silver, gold, lead, and zinc. The company's strategy focuses on generating free cash flow from long-life mines, organic growth through extensive drilling, ongoing merger and acquisition efforts, and a long-term commitment to responsible mining and ESG. This latest development at the Chaarat joint venture underscores Silvercorp's growth potential and its ability to advance large-scale projects. The full press release is available at https://nnw.fm/RTirN.

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